St Jude Medical named among world’s most admired companies

St Jude Medical has been named one of the most admired companies in the world in a new report from Fortune Magazine.

The company made the publication's list of the most respected organisations for the eighth consecutive year, finishing within the top 50 overall, while tying for first place with Stryker in the medical equipment category.

Fortune Magazine's rankings are compiled with input from global business leaders, who evaluate participating companies based on factors such as their innovation, social responsibility, management quality, financial soundness and people management.

Daniel Starks, chairman, president and chief executive officer of St Jude Medical, said: "It's wonderful recognition for the work being done by St Jude Medical's more than 16,000 employees around the world who are researching, treating and helping advance the practice of medicine … through medical technology."

The healthcare company announced a ten percent divided increase last month, a move which further underlines St Jude Medical's current financial strength.